Somaliland Government Signs Agreement with UK Oil Company

[Goljano Lion]

Jun 01, 2008 at 02:27 AM

Hargeisa.

The Somaliland Ministry of Water and Natural Resources has confirmed that the government of Somaliland has signed an oil exploration agreement with Asante Oil (UK) Limited.

According to the Director-General of the Ministry of Water and Natural Resources, Eng. Ahmed Ibrahim Suldan, Asante Oil (UK) Limited recently purchased the report from the seismic survey conducted in Somaliland by TGS of Norway, and has subsequently agreed to begin drilling towards the end of 2008.

Speaking to reports from the Republican at his office in Hargeisa, Eng. Ahmed Ibrahim also refuted recent rumours that Range Resources and African Oil which are currently conducting similar exploration in the Puntland region of Somalia may encroach into Somaliland territory.

Eng. Ahmed Ibrahim, Director-General of the Somaliland ministry of Water and Natural Resources described these rumours as baseless and stated that the government of Somaliland will protect the natural resources of the country, and described the current exploration in Puntland as merely an attempt by Range Resources and African Oil to sell shares in their companies in order to generate money.

Eng. Ahmed Ibrahim described the recent survey by TGS in Somaliland as extensive one which drawn lots of interest at the recent petroleum convention in San Antonio, Texas.

Source The Republican